The Lloyd’s Market Association, International Underwriting Association and London and International Insurance Brokers’ Association have today launched a joint training programme designed to address non-financial misconduct in the specialty insurance market.

The move follows the publication of the Financial Conduct Authority’s 2024 report on non-financial misconduct in the wholesale specialty insurance market.

The programme, delivered in association with compliance consultancy firm Padda Consulting, consists of a series of six workshops tailored for members of the LMA, IUA and LIIBA, with an additional session for independent non-executive directors and non-executive directors of LMA, IUA and LIIBA member firms.

Sheila Cameron, chief executive of the LMA, said: “The NFM workshops are designed to equip key stakeholders across the insurance sector with the knowledge, tools and strategies needed to enhance workplace culture, governance and compliance with FCA expectations. Given the importance of multi-functional oversight in managing NFM, these workshops are tailored for professionals responsible for HR, compliance, risk and executive leadership within member firms of the LMA, IUA and LIIBA.”

Chris Croft, chief executive of LIIBA, added: “The session for INEDs, NEDs and board directors will focus on board-level responsibilities, ensuring directors understand their role in challenging management on NFM oversight, reviewing governance frameworks and assessing whistleblower protections. It will provide strategic insights into whistleblowing responsibilities, cultural risk oversight and regulatory accountability under FCA and Lloyd’s governance principles.”

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